Go to Kentucky.gov home page
Kentucky: Council on Postsecondary Education

Council on Postsecondary Education
Council on Postsecondary Education approves 2-year budget request

Press Release Date:  Monday, November 07, 2005  
Contact Information:  Sue Patrick
502-573-1555
sue.Patrick@mail.state.ky.us
 


(FRANKFORT, Ky.)—The Council on Postsecondary Education today approved an operating and a capital budget request for the fiscal year 2006-2008 biennium. The request will provide funds for institutional operations and for construction, renovation and technology projects on the campuses of the state’s eight public universities, the Kentucky College and Technical System, Council operations, Kentucky Adult Education, Kentucky Virtual University, Kentucky Virtual Library, and other initiatives of the state’s postsecondary education system.

The operating budget request represents an increase of $193.1 million, or 17.73 percent in recurring funds and $ 30.5 million in nonrecurring funds.

The major components of the operating budget request are $150.6 million for base funding of the public universities, KCTCS, the Council, Kentucky Adult Education, KYVU and KYVL; $60.6 million for strategic trust funds and incentive funds; and $12.3 million for special initiatives and pass-through programs.

The capital budget includes $1.6 million of debt service for $15 million for capital renewal and maintenance projects; $31.1 million of debt service for $296.8 million for instructional and student service projects; $17.9 million of debt service for $170.3 million for construction; $7.6 million for design of a research and economic development project; and $5 million of debt service for $25 million in information technology projects.

“We are grateful to the Governor and General Assembly for their past support of the postsecondary education system. That support has enabled us to make remarkable progress in a short period of time,” said Tom Layzell, president of the Council.

“There is no doubt that this request is ambitious given the serious fiscal challenges facing the state, but we pledge ourselves to work with the Governor and General Assembly to meet the fiscal challenges and to continue our progress towards our reform goals over the next biennium,” Layzell added.

For adult education base operations, the Council requests a $6 million increase over the two-year period to enhance services to a larger segment of citizens.

The request will now go to the Governor and General Assembly.

Layzell added that postsecondary and adult education system is on track to reach the goals of House Bill 1 and Senate Bill 1 and to reap the returns on its investment. He was referring to a projected $71 billion increase in annual personal income for Kentuckians and a $5 billion annual increase in taxes if the Commonwealth reaches the national average of educational attainment by 2020.

In addition to base operations and the capital request, other priorities of the Council include strategic trust funds/incentive programs and special initiatives.

 The eight trust funds/incentive funding programs total more than $60.6 million. Included in this funding are additional funds for the Bucks for Brains program, funds for improving research infrastructure at the University of Kentucky and the University of Louisville, funds for a P-16 joint engineering program, and funding for regional stewardship and workforce development.

 The fourth component of the budget request is for special initiatives. These initiatives range from improving retention and affordability for low-income students, promoting direct access to a public four-year education in southeast Kentucky at the University Center of the Mountains, and improved student services at each of Morehead State University’s five regional campuses.

For more information on the Council’s budget, go to http://www.cpe.ky.gov/about/cpe/meetings/2005/cpeagenda11072005.htm



 

Last Updated 11/8/2005
Privacy | Security | Disclaimer | Accessibility Statement